The report found an
increase in provincial and federal regulations over the past several decades,
in addition to other factors, has had a negative effect on the business
competitiveness of the sector.

This is most evident
when contrasting regulatory proposals for projects in the US versus Canada.

Since 2016, only one
major transmission pipeline application has been put forward, while there have
been 14 in the US, underlining competitiveness challenges in the Canadian
transmission pipeline industry.

“More than anything,
pipeline companies and investors are looking for clarity, certainty and
predictability,” said EY Strategy Partner and Canadian Oil and Gas Leader Lance
Mortlock.

“Balancing the
environment, social and economic trade-offs is critical to enhance global
competitiveness, job creation and economic growth.”

In response to the
report, CEPA has released a report detailing its recommendations to navigate
the issue of competitiveness crisis.